Uganda Revenue Authority (URA) Registers Revenue collection 12.16 trillion

  • Posted on: 11 April 2019
  • By: sanyu-fm-news

Uganda Revenue Authority (URA) has so far registered a revenue collection of Shillings 12.16 trillion in the current financial year 2018/2019, posting a performance of 103 percent and a surplus of 356 billion.

The collection registered as at March 2019 is part of the total Shillings 16.4 trillion targeted revenue collection at the end of the financial year on 30th, June 2019.

Appearing before Parliament’s Finance Committee, URA Commissioner General, Doris Akol revealed the collections also noting that the taxpayer register had grown by 89,617 taxpayers representing a 6.79 percent growth.

Akol had appeared together with other officials from the tax collection body to present the Authority’s budget estimates for the coming financial year 2019/2020. She told the committee chaired by Rubanda East MP Henry Musasizi that they envisage realizing the set revenue collection target for this financial year given the progress registered so far.
 

However, Akol said that they still face challenges in domestic revenue mobilization noting that some policy measures that were passed by parliament have not been fully implemented citing the suspended Withholding VAT and the excise duty on Mobile Money transactions which was initially 1% and subsequently reduced to 0.5%. She also noted the 1% tax on Agriculture which meant resistance and failed to performance.

The Commissioner General further cited the increasing illicit trade and smuggling especially because of the existence of porous borders through which Uganda loses an estimated Shillings 21 billion. Akol further mentioned the limited number of equipment to improve border surveillance for example drones, boats and Satelite technologies, mis-declaration of cargo and others.
 

URA has been allocated a budget of Shillings 431.26 billion in the coming financial year 2019/2020 up from the current Shillings 331.92 billion budget in the current financial year 2018/2019. The allocated has seen an increase in the budget for the tax collection body of Shillings 99.33 billion.

Government has projected a revenue target for the coming financial year 2019/2020 at Shillings 20.25 trillion.